Do you have a retirement account that you manage beyond your job? If not, why not? You’re leaving tons of money on the table that can help you create generational wealth. And if your kids have earned income, you can also open a retirement account for them and put them on track to have a $1 million financial cushion.
One of the greatest investment tools that exist today is the Roth IRA (individual retirement account). If you’re a younger investor, you have more time on your hands to maximize the benefits of this retirement treasure but you’re never too old to get started.
Roth IRA is a tax-advantaged account that allows you to invest your after-tax dollars in assets that align with your investment goals. What makes this account so attractive is that all your money is compounded each year and you won’t have to pay any taxes when you take the money out at the time of your retirement. The opportunity to obtain tax-free income allows you to accelerate your wealth-building goals.
In order to take advantage of the Roth IRA, you need earned income from wages, salaries, self-employment, and other